Prologis, Inc. (NYSE:PLD) Shares Sold by HMS Capital Management LLC

HMS Capital Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLDFree Report) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,980 shares of the real estate investment trust’s stock after selling 1,653 shares during the quarter. HMS Capital Management LLC’s holdings in Prologis were worth $1,064,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CreativeOne Wealth LLC grew its holdings in shares of Prologis by 1.5% during the 2nd quarter. CreativeOne Wealth LLC now owns 5,547 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 82 shares during the period. SevenOneSeven Capital Management grew its holdings in shares of Prologis by 2.3% during the 4th quarter. SevenOneSeven Capital Management now owns 3,792 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 86 shares during the period. Hixon Zuercher LLC grew its holdings in shares of Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after purchasing an additional 88 shares during the period. Harbour Investments Inc. grew its holdings in shares of Prologis by 2.9% during the 1st quarter. Harbour Investments Inc. now owns 3,111 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 89 shares during the period. Finally, Covington Capital Management boosted its holdings in Prologis by 11.0% in the 3rd quarter. Covington Capital Management now owns 920 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PLD shares. Morgan Stanley upped their price target on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Royal Bank of Canada upped their price target on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Scotiabank upped their price target on Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Mizuho upped their price target on Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upgraded Prologis from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $123.00 to $148.00 in a report on Monday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.47.

View Our Latest Report on PLD

Prologis Stock Performance

PLD stock opened at $125.14 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $115.76 billion, a P/E ratio of 38.04, a P/E/G ratio of 2.57 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock’s 50 day simple moving average is $130.62 and its 200 day simple moving average is $121.62.

Prologis (NYSE:PLDGet Free Report) last posted its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, March 15th. Prologis’s dividend payout ratio is presently 116.72%.

About Prologis

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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